topic Re: Does FICO care about this? in Understanding FICO® Scoring

Does FICO care about this?

Anonymous — Wed, 31 Dec 2008 00:24:10 GMT

7/12 of my accounts on my CR's are from the same credit union. 3 of those 7 are open. Does anyone know if FICO cares about diversity between lenders?

Thanks

Re: Does FICO care about this?

llecs — Wed, 31 Dec 2008 00:29:41 GMT

FICO does not care, only in that you have a good mix of credit (product types) and FICO is reported to care whether or not you bank with a CU. I wouldn't know why and any score impact is super-minimal, if any.

Re: Does FICO care about this?

Anonymous — Wed, 31 Dec 2008 01:20:17 GMT

@llecs wrote:
FICO is reported to care whether or not you bank with a CU.

That is good about the lender diversity. I have 3 accounts open with a CU and 3 accounts open with various banks.

CU:

Credit Card

HELOC(Reporting as a Mortgage )

Car

Banks:

Mortgage

Credit Card x2

Any other account types I can add?

Message Edited by wcnghj on 12-30-2008 05:20 PM